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PSBC becomes TCFD supporter
PSBC becomes TCFD supporter
| China Post |2021-08-16

Recently, Postal Savings Bank of China (hereinafter referred to as PSBC) has officially become a supporting organization of the Task Force on Climate-related Financial Disclosures (hereinafter referred to as TCFD). It will constantly improve disclosure quality based on the regulatory requirements and TCFD framework.



Nowadays, TCFD recommendations are highly prized by international financial market participants, gaining support of over 2,300 organizations and institutions from 88 countries around the world.

In recent years, PSBC has been actively practicing the philosophy of green development, implementing national policies and regulatory requirements, benchmarking international standards. PSBC strives to develop sustainable and green finance and promote climate financing in an all-around way from corporate governance, policy making, product innovation, financial technologies, risk management to capacity building and other aspects. PSBC explores corporate carbon accounting pilot and transition finance, underwrites China’s first sustainable development linked debt financing plan and China’s first carbon neutrality super & short-term commercial paper , innovates the climate-friendly financial products and services, bolsters green and low-carbon development and promotes the harmonious coexistence between humans and nature. By the end of June 2021, the balance of green loans of PSBC had reached over 300 billion yuan(about 463.50 billion US dollars)and has successively won the honor of Exemplary Organization in Green Banking Comprehensive Evaluation by China Banking Association for the past few years. Hefei Data Center was rated as 2020 Green Data Center in China jointly announced by the Ministry of Industry and Information Technology and other five authorities.

In the future, PSBC will thoroughly carry out the major policies and plans concerning climate change and developing green finance made by the Party Central Committee and the State Council. In strict accordance with regulatory requirements and TCFD disclosures framework, PSBC will further specify information disclosures from aspects of governance, strategies, risk management, indicators and goals, and improve its environment and climate risk management system. In addition, PSBC will strive to build green inclusive and climate-friendly bank which not only meets the needs of regulatory requirements and international practice but has the characteristics of postal savings bank, so as to achieve the goals of peak carbon dioxide emissions and carbon neutrality.

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